Author: Julius Alagbe

Kano Eyes $10bn Energy Investment from Morocco The Kano state government says it will attract over 10 billion dollars in investment in renewable energy and solid minerals development from its partnership with prestigious Moroccan companies in the next five years. The state government also said the stage was set for the signing of a series of investment Memoranda of Understanding (MoU) with the Kingdom of Morocco. This is contained in a statement on Sunday in Kano by Sunusi Bature Dawakin-Tofa, the media aide to Gov. Abba Kabir-Yusuf. He said the agreements would focus on renewable energy, agriculture and commerce, as…

Naira Rises against EUR, USD as GBP Rally—CBN FX Data The Nigerian local currency, the naira, depreciated against the Great Britain pound (GBP) and South African rand (ZAR) in the official foreign exchange market, according to data obtained from the Central Bank. The British pound, or sterling, ended the week at N2,120 as payment obligations to trading partners in the United Kingdom increased from N2,106 spot rate at the beginning of the week. Meanwhile, demand for the euro (EUR) moderated versus the volume of foreign currency supplied as government trade relations and corporate business activities with partners in the European…

Taking the top seat as the largest single shareholder, Femi Otedola, First Holdco chairman, has raised his direct interest in the group by 4121% in 12 months to 1.689 billion units, according to audited financial statements released. Indirect shares credited to Otedola also increased by about 28% to 2.543 billion units.

Oil Prices Close Positive as China, US Moves to Talk Oil prices are set for a slight weekly gain in the week ending April 18, ahead of the Easter holidays, supported by renewed optimism over US trade talks as both benchmarks rebounded from last week’s four-year lows. The international oil benchmark of Brent crude increased by 4.2% to $66.96 per barrel on Thursday, up from the closing price of $64,26 a barrel last Friday. The US benchmark West Texas Intermediate also rose by 2.8% to $63.72 per barrel, compared to $61.96 at last week’s closing price. Oil markets are closed…

Nigerian Breweries Returned to Profitability in Q1-2025 Nigerian Breweries Plc grew net profit to N44.6 billion in the first quarter of 2025, marking a strong recovery from a net loss of N52.1 billion in the equivalent period in 2024. This strong bottom line pushed up was informed by the company’s strong revenue growth, reduced cost pressures, and a sharp decline in foreign exchange losses in the first three month in the year, Its unaudited financial statement showed that Nigerian Breweries recorded a robust 68.9% year on year increase in revenue, reaching N383.6 billion, primarily driven by better-than-expected volume growth, as…

How to Make Money from Stocks, Forex or Cryptocurrency Trading The rules are the same: buy low, sell high. But it is not that simple if you don’t play your game right. Forex, stocks, and cryptocurrency can make you some good money, and then they can break you if you have not learned the basic rules. There are two types of investors. The ones that want to invest to protect their wealth and those that want to make money. Wealth managers always profile their clients differently based on these targets. High networth individuals have made enough to scale them through…

Paris Club Refund: Firm Files Contempt Charge against CBN A consulting firm, Melrose General Services Limited, has filed a contempt charge against the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, and its Director of Legal Services, Salam-Alada Kofo, over a dispute on the Paris Club refund. The company instituted the suit marked: FHC/ABJ/CS/532/2025 before Justice Inyang Ekwo of the Federal High Court in Abuja. Cardoso and Kofo are facing contempt proceedings for allegedly failing to comply with a Supreme Court judgment that reversed the forfeiture of N1.22 billion and N220 million in an appeal by Melrose General Services. Justice…

Nigeria’s Macro Outlook Marked by Significant Uncertainty –IMF Nigeria’s macroeconomic outlook is marked by significant uncertainties, though the international Monetary Fund (IMF) expressed a view that the recent reform would help the country navigate external environment. Unfortunately, the reform has ushered increased poverty from rising costs and weakening standards of living while misery index has worsened sharply. The internal economy is bleeding profusely, but IMF if of the view that Nigerian authorities have taken important steps to stabilize the economy, enhance resilience, and support growth. “These reforms have put Nigeria in a better position to navigate the external environment, maintaining…

Moody’s Upgrades Outlook on Helios Towers to Positive Moody’s Ratings has changed the outlook on Helios Towers and HTA Group, Ltd. to positive from stable. At the same time, Moody’s analysts have affirmed the B1 long term corporate family rating (CFR), the B1-PD probability of default rating (PDR) of Helios Towers and the B1 rating of its $850 million backed senior unsecured notes issued by HTA Group, Ltd. due in 2029. The rating note said the outlook on Helios Towers was changed to positive from stable, reflecting the company’s ongoing deleveraging efforts, successful transition to generating positive free cash flow…

Insight into Forex Trading: Tips, Concepts, How and Why As a begining forex trader, you are are probably planning to head towards an uncharted territory where lions as the kings of the jungle. This is an arena where you will be tested based on what you know, what you think you know, and what you should know. With skills, FX traders could also become billionaires in the forex markets. The foreign exchange (forex) market has seen a strong increase in position taking in EUR and GBP, while the US dollar appears to be on traders sell lists in recent times…